Wanda Group handing over its management of 13 theme parks to Sunac China Holdings

Dalian Wanda Group has widened its retreat from tourism and entertainment arena by handing over the management of 13 theme parks that it sold to Sunac China Holdings Ltd. last year.
Sunac said in a Hong Kong stock exchange filing, they are agreed to pay 6.28 billion yuan for several Wanda-affiliated companies to improve “management efficiency”.
Wanda Group is giving up the management rights after agreeing last year to sell a 91 percent stake in its cultural tourism projects across China to Sunac for 43.8 billion yuan, part of a sweeping asset disposal after the Beijing-based conglomerate...Read more ...